CALGARY, ALBERTA--(Marketwired - Jan. 14, 2016) - Lagging investor confidence in Alberta's oil and gas sector has more to do with policy uncertainty than a lack of pipelines to get oil to market, concludes a new research bulletin released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. Pipelines or Policies: What's Behind the Fall in Investor Confidence in Alberta? examines whether investor perceptions of Alberta's energy industry are driven [Read more]
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Alberta January 13th Land Sale Earns $2.4 Million
Yesterday's Alberta oil and gas mineral rights land sale earned the province a total of $2.4 million for 104 leases consisting of just over 40,000 hectares of land. That averages out to $59.43/hectare. For comparison, in the first land sale of 2015, Alberta earned $24 million. The largest single bidders were Birchhill Canada Corp. and Crescent Point Energy Ltd. Birchhill paid $253k for 7 sections in the Carrot Creek area of west-central Alberta and Crescent Point paid $256k for a [Read more]
Inside Newfoundland and Labrador’s slide from resource wealth to fiscal mess
ST. JOHN'S, N.L. - It's enough to make one of Canada's most successful folk musicians sing the blues.Bob Hallett, founding member of Great Big Sea, is now a businessman who invested big-time in a St. John's restaurant and bar three years ago when Newfoundland and Labrador was leading national economic growth.Today, it's among other resource-reliant provinces such as Alberta and Saskatchewan that have borne the fiscal brunt since oil prices tanked."Business is probably off across the board [Read more]
Deferred upstream projects tally reaches 68, equal to US$380 billion of capital investment
EDINBURGH/HOUSTON, 14th January 2016 – Wood Mackenzie has updated its analysis published in July 2015 on the impact of continued low oil prices on upstream oil and gas projects. It concludes that in the last six months of 2015 an additional 22 major projects and seven billion barrels of oil equivalent (boe) of commercial reserves have been deferred, on top of the 46 developments and 20 billion boe of reserves identified previously. Deepwater projects have been hit hardest, accounting for over [Read more]
A rocky start to another tough year for Alberta: ATB Economic Outlook
CALGARY, Jan. 14, 2016 /CNW/ - The first half of 2016 is likely to be the roughest yet as the economic downturn continues in Alberta. Today, ATB Financial is releasing its latest quarterly Economic Outlook for the province, providing insight into what may happen in the months ahead. Capturing five primary economic indicators, the key results from ATB's Alberta Economic Outlook are: Alberta's economy contracted by about one per cent last year; a smaller contraction is likely in [Read more]
Petrus Resources Announces Closing of Subscription Receipt Financing and Conditional TSX Listing Approval
CALGARY, ALBERTA--(Marketwired - Jan. 14, 2016) - Petrus Resources Ltd. ("Petrus" or the "Company") is pleased to announce that Petrus Acquisition Corp. ("New Petrus") has completed the previously announced bought deal financing of 16,217,000 subscription receipts ("Subscription Receipts") at an issue price of $1.85 per Subscription Receipt (the "Private Placement") for aggregate gross proceeds of approximately $30 million with a syndicate of underwriters led by FirstEnergy Capital Corp. [Read more]
Painted Pony Announces Operational and Townsend Facility Update
CALGARY, Jan. 13, 2016 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce a strong operational start to 2016, ongoing success in obtaining firm transportation service, and an update on construction of the new gas processing facility in the Townsend area by AltaGas Ltd. ("AltaGas") ("AltaGas Townsend Facility" or the "Facility"). AltaGas Townsend Facility Ahead of Schedule Construction of the Facility is progressing well ahead of [Read more]
Alberta freezes salaries of non-union government staff
EDMONTON - The Alberta government is freezing the salaries of about a quarter of its workforce for two years as it deals with nosediving oil and gas prices. Finance Minister Joe Ceci said Wednesday the move affects 7,000 civil servants and will save $57 million in total. "This was not a decision we made lightly," Ceci told a legislature news conference. "However, to maintain stability and to protect jobs within the public service we must deal with the economic realities we are [Read more]
B.C. Supreme Court hands another setback to Northern Gateway pipeline
VANCOUVER - An alliance of First Nations is celebrating a British Columbia Supreme Court ruling that it says could set back the Northern Gateway pipeline by years and throw a wrench into another high-profile project review.The case was brought forward by the Gitga'at First Nation and Coastal First Nations, which represents nine aboriginal communities along B.C.'s northern and central coast, including the Gitg'aat.At the centre of the challenge was an equivalency agreement in which British [Read more]
What happened to the BOE Report the past couple of days
In the past two days, the BOE Report server crashed and the site experienced downtime and as a result, users could not access BOERreport.com. Server Requests Typically, the BOE Report server receives approximately 200,000 requests per day. This is not to be confused with different traffic analytic tools such as unique visitors (users) or pageviews. The BOE Report usually receives 10,000 users/day and 27,000 pageviews. A request comes from users, bots and when other websites which use [Read more]